Hello, Guys as most of you heard about a recent rule of RBI that bank can reduce credit limit of a card if not used regularly. Before this rule banks generally never used to reduced CL. Either they increase CL or never increase if not used regularly. Seen a post on a different forum that someone's HDFC Millennia credit limit reduced to 20k from 1lakh for less usage as per banks internal policy. Also another person's RBL/ICICI credit limit also reduced for less usage. Now as I have 16 Credit Card from 10 Banks(Except 3-4 cards which I use regularly) for year round Online eCommerce Sale/Instant discount.
Also it's not possible to use all the cards every month. Not just me I think most of the Dimers here have more than 4/5 Credit Card for above purpose. So what's the best way to use all the cards regularly so that CL will not be reduced in future.
Yeah, my RBL shoprite cards limit was reduced from 293k to 30k on 1st June.
I rarely use this card. I believe I used only when I got it for the first time. Other than that it has been a year and I have never used it.
It's pretty useless for me. Holding it for the sake of being LTF only
"credit utilization ratio" will be impacted in CIBIL a little:) -> which is of no use to many to be frank
other than that nothing to worry about decrease in credit limit
Oh... That's a relief 😁
yes good move:)
hahaha then guess its dead end for me:)
cries from one of a pokemon collector
On the contrary, during the last 2 months, I received LE from ICICI, Kotak, IndusInd & OneCard. So I guess that depends on customer profile, usage pattern or CC type. To use frequently, get the RuPay variants and use RuPay Credit Card on UPI.
Same here received LE on IDFC, Bob, HDFC last month. All these are very rarely used cards.
Thats my plan and I am doing that almost every month, rarely skip some cards by forgetting but mostly i do 100 transaction a minimum:)
VU+ to see more interesting view on how to manage credit limit with multiple credit cards
This is not new thing, banks do this for long time. Actually banks can't give as much limits as they want. They need enough amount reserved to themselves for giving credit limit to people.
Because if any financial crisis comes suddenly people start utililizing their full limits and also people start to withdraw cash from banks. The whole economy will be in danger.
So, they keep review and update limits so that they can reduce the limits of those who don't need them and can give them to those who need.
Banks have their own criteria to update limits, but I think if your utilization is too low for long time, then bank will try to take down that limit.
anything better than 0 
as start:) unless everyone copies this strategy , i doubt everyone will have time and patience to keep up with every card
so for now any amount other than 0 is good in my opinion
but in future if many people replicates this strategy that time we need to increase like 1k or 10k based on demand of how it goes
but seriously many people will have hard time maintaining multiple credit cards with bills generated on every card:)
so no need to worry for now as long as we have some bill generated in every card
(in my opinion)
Got Limit Increase on my Rarely used Indusind Legend card today
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Welcome move . This makes one to think CCs as credit cards not pokemon cards. Many are over leveraged by hoarding these cards. Its time users cull unnecessary cards and focus on better well being.
On the contrary, during the last 2 months, I received LE from ICICI, Kotak, IndusInd & OneCard. So I guess that depends on customer profile, usage pattern or CC type. To use frequently, get the RuPay variants and use RuPay Credit Card on UPI.
not going into debate about if this is right or wrong.
Any ways to avoid this?
Maybe do a txn of 100₹ every few months.